If you are searching for a Registered Valuer in Delhi for a share allotment, ESOP exercise, company merger, IBC proceeding, or any statutory corporate purpose, this is the only guide that reflects the complete regulatory position as of July 2026 — incorporating six major regulatory changes from December 2025 through June 2026 that directly affect Delhi NCR businesses. No other published guide for this keyword covers these developments. Marcken Consulting, led by CA Murli Chandak, holds IBBI Registered Valuer (SFA) and SEBI Category-I Merchant Banker registration — and is updated on every regulatory change that affects our Delhi NCR clients.
1. The Complete 2025–2026 Regulatory Timeline: What Every Delhi NCR Business Must Know
The Indian valuation regulatory landscape has undergone more changes in the period from December 2025 to June 2026 than in any comparable period since the introduction of the IBBI Registered Valuer framework in 2017. Delhi NCR businesses — which include some of India’s most active users of Registered Valuer services for IBC proceedings, merger schemes, and ESOP programmes — are more directly affected by these changes than companies in any other Indian city. For a foundational overview of valuation applicability under Indian law, see: Valuation Applicability in India — a comprehensive overview.
The following table is the most comprehensive summary of 2025-2026 regulatory changes affecting Registered Valuers in Delhi NCR currently available. No competitor’s published content covers all six of these developments.
| Date | Regulation / Circular | Key Impact on Delhi NCR Registered Valuer Requirements |
|---|---|---|
| Dec 2025 | SEBI / Merchant Bankers Amendment | IBBI Registered Valuers replace Merchant Bankers for listed company ESOP and sweat equity valuations. Effect from 02 January 2026. Ongoing MB engagements may continue for 9 months. |
| Feb 2026 | IBBI CIRP Amendment Regulations 2026 | Introduces coordinator-valuer model (one per asset class). Revises Fair Value definition to include underlying synergies. Appointment: within 7 days, not later than 47th day. New mandatory report format. |
| Feb 2026 | IBBI Liquidation Process (Second Amendment) 2026 | Mandates IBBI-notified format for all liquidation valuation reports. Replaces Companies (Registered Valuers and Valuation) Rules 2017 reference with IBBI circular standards. |
| Apr 2026 | IBBI Circular IBBI/RV/93/2026 | International Valuation Standards (IVS) by IVSC mandated for all IBC proceedings — CIRP, liquidation, avoidance transactions. Single mandatory standard replacing the previous dual-standards approach. |
| May 2026 | IBBI Liquidation Process (Third Amendment) 2026 | Single-valuer rule introduced for MSME liquidations — liquidator may appoint one registered valuer instead of two, with reasons recorded in writing. Significant change for Delhi NCR’s MSME base. |
| Jun 2026 | IBC Amendment Act 2026 | Statutory definition of ‘registered valuer’ introduced within the IBC itself for the first time. Faster NCLT admission (14-day mandate). CIIRP introduced with 150-day target. Registered valuers formally classified as IBC service providers. |
2. Detailed Analysis: What Each Regulatory Change Means for Your Delhi NCR Business
2.1 December 2025 — SEBI Replaces Merchant Bankers with IBBI RVs for Listed ESOP Valuations
REGULATORY ALERT — December 2025 (Effect from 02 January 2026)
SEBI, by Gazette Notification No. SEBI/LAD-NRO/GN/2025/282 dated 3 December 2025, has amended the SEBI (Merchant Bankers) Regulations. With effect from 02 January 2026, fresh ESOP and sweat equity valuation engagements for listed companies must be conducted by an IBBI-registered Registered Valuer — not a Merchant Banker.
For unlisted companies: Rule 11UA / Rule 57 of the Income-tax Rules continue to require a SEBI-registered Merchant Banker for the FMV certification at exercise date.
Transitional provision: Ongoing Merchant Banker ESOP valuation engagements as of 02 January 2026 may be completed within nine months.
Delhi NCR is home to over 200 listed companies — including large manufacturing groups, FMCG companies, real estate developers, and pharmaceutical groups. Every one of these companies with an active ESOP programme is directly affected. For a complete guide to ESOP valuation, see: How is ESOP Valuation Calculated? and our ESOP Consultant in Delhi — Definitive 2026 Guide.
2.2 February 2026 — IBBI CIRP Amendment: Coordinator-Valuer Model and IVS-Compliant Format
REGULATORY UPDATE — 25 February 2026 (IBBI/2025-26/GN/REG135)
The IBBI (CIRP) (Amendment) Regulations, 2026 introduce the coordinator-valuer model. Key changes: (a) One registered valuer per asset class, with one designated as the coordinating valuer. (b) Revised Fair Value definition includes ‘underlying synergies’. (c) Appointment within 7 days of CIRP commencement, not later than the 47th day. (d) Mandatory IBBI-notified report format. (e) Resolution Professional must facilitate a meeting where valuers explain methodology to the Committee of Creditors before computation.
Practical implication: Reports in the old format submitted to the NCLT Principal Bench in Delhi after February 2026 are non-compliant.
2.3 February 2026 — IBBI Liquidation Process (Second Amendment): Mandatory Report Format
The IBBI (Liquidation Process) (Second Amendment) Regulations, 2026 (F. No. IBBI/2025-26/GN/REG136) mandates that registered valuers in liquidation proceedings must prepare valuation reports in the format specified by IBBI through circular — replacing the Companies (Registered Valuers and Valuation) Rules, 2017 reference. Delhi NCR companies in liquidation proceedings must ensure their appointed registered valuers are using the IBBI-notified format. See: Who Can Issue a Business Valuation Report in India?
2.4 April 2026 — IVS Mandatory for All IBC Proceedings (IBBI Circular IBBI/RV/93/2026)
REGULATORY UPDATE — 1 April 2026 (IBBI Circular IBBI/RV/93/2026)
IBBI has mandated International Valuation Standards (IVS) issued by the International Valuation Standards Council (IVSC) as the applicable valuation standards for ALL valuations conducted under the IBC — effective immediately from 1 April 2026.
This applies to: CIRP valuations, liquidation valuations, voluntary liquidation, avoidance transaction valuations, and all other IBC proceedings.
Previously: Liquidation valuations followed Companies (Registered Valuers and Valuation) Rules 2017; CIRP used IVS on a recommended basis. The April 2026 circular replaces the dual-standards approach with a single mandatory IVS framework.
Action required: Any Registered Valuer in Delhi report for an IBC proceeding dated after 1 April 2026 that does not apply IVS is non-compliant and risks rejection by the NCLT or liquidator.
2.5 May 2026 — MSME Single-Valuer Rule in Liquidation
The IBBI (Liquidation Process) (Third Amendment) Regulations, 2026 (effective 19 May 2026) introduces a single-valuer rule for MSME liquidations. The liquidator may appoint one registered valuer — instead of the standard two — for MSME liquidation proceedings, with reasons recorded in writing and consultation committee approval. Delhi NCR has one of India’s largest concentrations of registered MSMEs — making this amendment directly relevant for Resolution Professionals and Liquidators in the NCR region.
2.6 June 2026 — IBC Amendment Act 2026: Statutory RV Definition and CIIRP
- Statutory definition of Registered Valuer: Section 3(27A) formally introduces the definition of ‘registered valuer’ within the IBC itself — adopting the meaning under Chapter XVII of the Companies Act, 2013. This strengthens the legal foundation for valuer authority in NCLT proceedings and formally classifies registered valuers as IBC service providers.
- Faster NCLT admission: 14-day mandate for NCLT admission decisions — compressing the timeline within which registered valuers must be appointed and reports submitted.
- CIIRP: New Corporate Insolvency Interim Resolution Process with a 150-day target — placing additional pressure on valuer appointment and report delivery schedules.
- Expanded avoidance look-back: Extended review period for preferential and fraudulent transactions — increasing the volume of avoidance transaction valuation mandates at the NCLT Principal Bench in Delhi.
3. Which Credential Does Your Delhi NCR Business Need? — The Complete 2026 Matrix
The following matrix reflects credential requirements updated to the July 2026 regulatory position. For a full explanation of the distinction between credentials, see: IBBI Registered Valuer vs. SEBI Merchant Banker — which do you need? and Income Tax Act sections requiring valuation reports.
| Transaction / Purpose | IBBI Registered Valuer (SFA) | SEBI Merchant Banker | Chartered Accountant |
|---|---|---|---|
| ESOP allotment — Section 62(1)(b) — Companies Act | REQUIRED (SFA class) | NOT accepted | NOT accepted |
| ESOP perquisite FMV — Rule 11UA / Rule 57 — Income Tax | Varies (see Section 2.1) | REQUIRED (until IT Rules amended) | NOT accepted |
| Listed ESOP valuation — SEBI SBEB — post Jan 2026 | REQUIRED from Jan 2026 | Transitional only | NOT accepted |
| Merger exchange ratio — Sections 230–232 — Companies Act | REQUIRED (SFA class) | NOT accepted | NOT accepted |
| CIRP fair value and liquidation value — IBC / IBBI | REQUIRED — IVS mandatory from Apr 2026 | NOT accepted | NOT accepted |
| MSME liquidation — IBBI Third Amendment 2026 | REQUIRED — single valuer permitted | NOT accepted | NOT accepted |
| Capital reduction — Section 66 — Companies Act | REQUIRED (SFA class) | NOT accepted | NOT accepted |
| FDI share allotment pricing — FEMA / RBI | NOT prescribed for FEMA | REQUIRED for FEMA pricing | NOT accepted |
| Income Tax — Section 56(2)(x) / 50CA / Rule 11UA | NOT prescribed | REQUIRED (SEBI MB) | NOT accepted |
| Ind AS 102 — grant-date fair value — Accounting | Strongly preferred | Accepted | Accepted with qualification |
Marcken Consulting, led by CA Murli Chandak, holds IBBI Registered Valuer (SFA) and SEBI Category-I Merchant Banker registration — covering every requirement in the matrix above. The firm’s reports are updated to comply with the April 2026 IVS mandate, the February 2026 coordinator-valuer model, and the IBBI-notified report format for all Delhi NCR IBC proceedings. See: Merchant Banker Valuation in India.
4. The NCLT Principal Bench Factor: Why Delhi NCR Demands the Highest Standard of RV Reports
Delhi is home to the NCLT Principal Bench — the most active, most scrutinised, and highest-profile insolvency and corporate law court in India. A disproportionate number of India’s largest corporate mergers, restructurings, and insolvency proceedings are heard before this bench. The following table maps the primary NCLT Principal Bench proceeding types and the RV requirements applicable in July 2026.
| Proceeding Type | Regulatory Provision | Timing | Key RV Requirements (July 2026) |
|---|---|---|---|
| Merger / Demerger / Scheme | Sections 230–232 — Companies Act | Before NCLT petition filing | Share exchange ratio; asset and business valuation |
| CIRP — Fair and Liquidation Value | Reg. 27 / Reg. 35 CIRP Regs 2026 | Within 7 days of CIRP; completed by day 47 | IVS mandatory (April 2026 circular); coordinator-valuer model; IBBI-notified report format |
| Liquidation Valuation | Reg. 35 Liquidation Regs 2026 | Appointed within 7 days of liquidation order | IVS mandatory; IBBI-notified format; single valuer for MSME (May 2026 amendment) |
| Preferential / Fraudulent Transaction | Section 43 / 66 IBC | On RP or liquidator’s reference | Whether transaction was at fair value; expert witness standard |
| Minority Squeeze-Out | Section 236 — Companies Act | Before acquisition of minority shares | Fair price for compulsory acquisition |
The NCLT Principal Bench has a documented history of scrutinising the independence, methodology, and documentation quality of RV reports. Since the April 2026 IVS mandate, the bench has an additional basis for raising objections where a submitted RV report does not apply IVS. For a broader overview of RV requirements across India, see our guides: Registered Valuer in Mumbai and Registered Valuer in Bengaluru.
5. Delhi NCR Industry Clusters: RV Requirements and Methodology — Updated for 2026
The following matrix provides a structured reference for the primary RV triggers and appropriate valuation methodology for each of Delhi NCR’s seven major industry clusters — updated to reflect all 2025-2026 regulatory changes including the IVS mandate for IBC proceedings and the January 2026 IBBI RV requirement for listed company ESOP valuations. For a full industry-specific ESOP guide, see: ESOP Consultant in Delhi: The Definitive 2026 Guide.
| Industry Cluster | Primary RV Triggers | Valuation Methodology |
|---|---|---|
| Manufacturing and Industrial (Faridabad, Manesar, Okhla) | ESOP allotments; merger exchange ratio for group consolidation; IBC CIRP for stressed manufacturers; squeeze-out of minority holders | DCF for earnings-generative; NAV for asset-heavy; CCM for listed manufacturing peers; IVS-compliant for IBC mandates |
| Real Estate and Construction (Gurgaon, Noida, Greater Noida) | ESOP allotments; pre-IPO merger schemes; IBC CIRP for stressed developers; DIPAM divestment valuations | NAV for land bank; DCF on project cash flows; stamp duty value for immovable property |
| FMCG and Consumer Brands (Gurgaon, South Delhi) | Listed ESOP valuations (IBBI RV mandatory from Jan 2026); merger schemes; sweat equity | CCM using listed FMCG peer multiples; DCF for branded businesses; Relief-from-Royalty for brand intangibles |
| Technology and IT Services (Noida / Gurgaon) | ESOP allotments at each funding round; CCPS conversion; pre-IPO restructuring; 409A-equivalent for US-funded companies | WAV (DCF + CCM) for 409A; peer-group proxy volatility; Black-Scholes for Ind AS 102; IVS for IBC |
| Pharma and Healthcare | Listed pharma ESOP valuations (RV mandatory from Jan 2026); hospital chain restructuring; R&D company IBC proceedings | rNPV for clinical-stage; CCM for commercial pharma; Relief-from-Royalty for IP-heavy balance sheets; IVS for IBC |
| PSU-Adjacent and Government-Linked | DIPAM divestment valuations; JV restructuring; pre-listing ESOP scheme adoption | NAV adjusted for government licence premium; DCF where commercial operations are established |
| MSME Sector (Delhi NCR-wide) | ESOP allotments; IBC liquidation (single-valuer rule from May 2026); merger schemes | NAV or DCF depending on asset profile; single-valuer IVS-compliant report for MSME liquidation per May 2026 amendment |
6. Industry-Specific RV Requirements for Delhi NCR Companies
6.1 Manufacturing and Industrial — Faridabad, Manesar, Okhla
- Group consolidation mergers: Manufacturing groups consolidating subsidiaries before listing require merger exchange ratio RV reports filed with the NCLT Principal Bench — the most scrutinised forum for these reports in India.
- IBC for stressed manufacturers: Post-April 2026, all RV reports for IBC proceedings must apply IVS and use the IBBI-notified format.
- ESOP for professional management: For unlisted manufacturers, the IBBI RV certificate (Companies Act Section 62(1)(b)) and SEBI MB certificate (Rule 11UA income-tax) are both required for each ESOP exercise event. See: Income Tax vs. Companies Act Valuation — what is the difference?
6.2 Real Estate and Construction — Gurgaon, Noida, Greater Noida
- Post-April 2026 IVS compliance: RV reports for real estate developer CIRP proceedings must now apply IVS — requiring explicit methodology documentation and sensitivity analysis.
- DIPAM divestment: Several government-adjacent real estate entities in Delhi NCR are part of the DIPAM divestment programme — requiring specific treatment of government-held land and development rights.
- Pre-IPO restructuring: Several Gurgaon-based real estate companies are preparing for listing. Pre-IPO merger and restructuring schemes require RV reports filed with the NCLT — subject to SEBI scrutiny in the DRHP.
6.3 FMCG and Consumer Brands — Gurgaon, South Delhi
- Listed ESOP — post-January 2026: FMCG companies must transition ESOP valuation engagements from Merchant Bankers to IBBI Registered Valuers for fresh assignments under the December 2025 SEBI amendment.
- Brand acquisition mergers: FMCG acquisitions involving brand valuations require RV reports for the merger exchange ratio — with Relief-from-Royalty methodology for the brand intangible component.
- D2C and emerging brands: Unlisted D2C brands are unlisted and typically venture-backed. See: How ESOP consultants help startups design effective ESOP plans.
6.4 Technology and IT Services — Noida and Gurgaon Corridor
- ESOP at each funding round: Noida and Gurgaon technology startups require IBBI RV certificates for each ESOP exercise event under Section 62(1)(b). See: ESOP Consultant in Bengaluru — startup and VC ecosystem guide for a comparable startup RV context.
- 409A-equivalent for US-funded companies: Technology companies in the Noida-Gurgaon corridor with US investors require 409A-equivalent valuations. See: Can an Indian Valuer do a 409A Valuation? and When is a 409A Valuation Compulsory?
- MNC subsidiary cross-border: MNC subsidiaries require FEMA MB certificates for FDI pricing and IBBI RV certificates for Companies Act allotments — both must be consistent. See: 409A Valuation vs. Investor Valuation.
6.5 PSU-Adjacent, Government-Linked, and DIPAM Businesses
- DIPAM divestment valuations: The Department of Investment and Public Asset Management (DIPAM) divestment programme generates specific RV mandates requiring treatment of government-granted licences and concessions as components of enterprise value.
- JV restructuring: Delhi NCR has a large base of PSU-private JVs in energy, infrastructure, and defence. Restructuring requires RV certificates under the Companies Act.
- Pre-listing ESOP adoption: Government-adjacent companies preparing for listing must adopt SEBI-compliant ESOP schemes before the DRHP is filed.
6.6 MSME Sector — Delhi NCR-Wide
- MSME liquidation — single valuer: MSMEs in liquidation proceedings may now engage a single IBBI Registered Valuer under the May 2026 amendment — with reasons recorded in writing and consultation committee approval. The single valuer must still comply with the April 2026 IVS mandate and IBBI-notified report format.
- MSME ESOP programmes: For unlisted MSMEs, the IBBI RV certificate (Companies Act) and SEBI MB certificate (Rule 11UA) are both required — same requirements as larger unlisted companies. For reference on valuation fees, see: Budgeting for Company Valuation Fees in India.
7. Seven Common Registered Valuer Mistakes Made by Delhi NCR Companies in 2026
- Continuing to use a Merchant Banker for listed company ESOP valuations after January 2026: The December 2025 SEBI amendment requires IBBI Registered Valuers for fresh listed company ESOP valuations from 02 January 2026. Companies that have not updated their arrangements are non-compliant with the amended SEBI SBEB framework.
- Engaging an IBBI RV without verifying IVS compliance for IBC proceedings: From April 2026, all RV reports for IBC proceedings must apply International Valuation Standards. RVs who have not updated their methodology are producing non-compliant reports.
- Using an IBBI RV report for the income-tax perquisite FMV calculation: Rule 11UA / Rule 57 continues to require a SEBI-registered Merchant Banker. Using an RV certificate for this purpose creates a TDS compliance risk. See: IBBI Registered Valuer vs. SEBI Merchant Banker — full comparison.
- Not following the coordinator-valuer model for post-February 2026 CIRP appointments: CIRP proceedings commenced after the February 2026 amendment require the coordinator-valuer model. Resolution Professionals who appoint valuers without designating a coordinating valuer per asset class are non-compliant.
- Reusing a pre-April 2026 format for post-April 2026 IBC proceedings: RV reports in the format applicable before April 2026 are non-compliant for IBC proceedings after that date.
- Engaging a property valuer or L&B class RV for a share allotment or ESOP: Government-approved property valuers and IBBI Registered Valuers in the Land and Building class cannot issue certificates for share allotments or ESOP exercises. Only an SFA-class RV satisfies Section 62(1)(b) and Section 247.
- Not engaging the RV early enough for NCLT Principal Bench proceedings: The NCLT Principal Bench expects RV reports to be filed as part of the initial petition. For CIRP cases, appointment timelines are now compressed to 7 days by the February 2026 amendment. See: When is a Company Valuation Mandatory under the Companies Act?
8. Why Marcken Consulting Is Delhi NCR’s Preferred Registered Valuer in 2026
Marcken Consulting LLP, led by CA Murli Chandak, provides IBBI Registered Valuer and SEBI Merchant Banker services to businesses and Resolution Professionals across Delhi NCR. The firm holds both the credentials required to serve Delhi NCR clients across every statutory valuation purpose.
- Updated to June 2026 Regulatory Position: All six regulatory changes from December 2025 to June 2026 are incorporated into the firm’s engagement process, report format, and valuation methodology — including IVS compliance for IBC proceedings, the coordinator-valuer model, the IBBI-notified report format, and the MSME single-valuer provision.
- IVS-Compliant IBC Reports: All RV reports for IBC proceedings from April 2026 onwards apply International Valuation Standards as mandated by IBBI Circular IBBI/RV/93/2026.
- NCLT Principal Bench Experience: Reports prepared to meet the evidentiary standards of the NCLT Principal Bench — with full methodology documentation, sensitivity analysis, and independence from management.
- Dual-Credential One-Stop Engagement: Both the IBBI RV certificate (Companies Act / IBC / SEBI ESOP) and the SEBI MB certificate (Rule 11UA income-tax / FEMA) issued in a single coordinated engagement. See: Who Can Issue a Business Valuation Report in India?
- Cross-Sector Coverage: Active mandates across manufacturing, real estate, FMCG, technology, pharma, PSU-adjacent, and MSME sectors in Delhi NCR — covering listed and unlisted companies, IBC proceedings, and cross-border transactions.
- Speed and Confidentiality: Standard turnaround of 5 to 7 working days; 3-day expedited turnaround for time-sensitive NCLT or CIRP mandates. For reference on fees, see: Budgeting for Company Valuation Fees in India.
9. Frequently Asked Questions — Registered Valuer in Delhi — Updated July 2026
Q1. What is the most important regulatory change affecting Registered Valuers in Delhi NCR as of July 2026?
There have been six significant regulatory changes from December 2025 to June 2026. The most operationally impactful for most Delhi NCR businesses is the April 2026 IBBI Circular IBBI/RV/93/2026 — which mandates International Valuation Standards (IVS) for all IBC proceedings with immediate effect. Any RV report for an IBC proceeding in Delhi dated after 1 April 2026 that does not apply IVS is non-compliant and risks rejection by the NCLT Principal Bench or the liquidator. The December 2025 SEBI amendment is the most impactful for listed companies with ESOP programmes — requiring IBBI Registered Valuers (not Merchant Bankers) for fresh ESOP valuations from January 2026.
Q2. How does the February 2026 coordinator-valuer model work for CIRP proceedings at the NCLT Principal Bench in Delhi?
Under the IBBI (CIRP) Amendment Regulations 2026, the Resolution Professional must appoint a set of registered valuers for each asset class of the corporate debtor. Within each set, one valuer is designated as the coordinating valuer — responsible for computing the aggregate fair value for that asset class. The coordinating valuer facilitates a meeting where all appointed valuers explain their methodology to the Committee of Creditors before beginning computation. The final Fair Value is the average of the two closest estimates from the coordinating valuers. If estimates differ by 25 percent or more, a third set of valuers may be appointed.
Q3. Does the MSME single-valuer rule apply to all MSME IBC liquidation proceedings in Delhi NCR?
The IBBI (Liquidation Process) (Third Amendment) Regulations, 2026 (effective 19 May 2026) permits the liquidator to appoint a single registered valuer for MSME liquidations — instead of the standard two — with reasons recorded in writing and consultation committee approval. This is a permissive provision, not mandatory. The single appointed valuer must still comply with the April 2026 IVS mandate and the IBBI-notified report format.
Q4. What is the difference between a government approved property valuer and an IBBI Registered Valuer (SFA) in Delhi?
A government approved property valuer holds approval for valuing land, buildings, and real estate for income tax capital gains, stamp duty, and mortgage purposes. An IBBI Registered Valuer in the Securities or Financial Assets (SFA) class holds registration under the Companies (Registered Valuers and Valuation) Rules, 2017. Only an SFA-class IBBI Registered Valuer can issue certificates accepted under the Companies Act for share allotments, ESOP exercises, mergers, and IBC proceedings. Using a property valuer for a Companies Act share valuation is a statutory violation that creates personal liability for directors.
Q5. Is a fresh RV certificate required for each ESOP exercise event?
A separate RV certificate is required for each allotment event under Section 62(1)(b) of the Companies Act. A single certificate can cover multiple employees exercising options in the same allotment batch on the same date. The certificate cannot be reused for a subsequent allotment event. For listed companies from January 2026, the IBBI Registered Valuer requirement now applies under the December 2025 SEBI amendment. See: Valuation Applicability in India.
Q6. Does the April 2026 IVS mandate apply to RV reports for Companies Act purposes in Delhi NCR?
The April 2026 IBBI Circular IBBI/RV/93/2026 specifically mandates IVS for valuations conducted under the IBC — covering CIRP, liquidation, voluntary liquidation, and avoidance transaction proceedings. It does not directly mandate IVS for Companies Act valuations (share allotments, mergers, squeeze-outs). However, IVS is increasingly the de facto standard for quality Registered Valuer reports even outside IBC proceedings — and auditors and legal counsel are beginning to expect IVS-aligned methodology in Companies Act valuations as well.
Q7. How can Marcken Consulting serve Delhi NCR clients on NCLT Principal Bench matters without a Delhi office?
Marcken Consulting serves Delhi NCR clients entirely remotely for the valuation component — data collection, analysis, report preparation, and digital delivery of signed RV reports. For matters requiring physical filing at the NCLT Principal Bench or attendance at NCLT proceedings, the firm coordinates with local counsel and company secretarial professionals in Delhi NCR. The valuation report itself — which is the key document the NCLT scrutinises — is prepared entirely by the principal RV, CA Murli Chandak, and meets the evidentiary standards expected by the Principal Bench.
Q8. What data is required to start a Registered Valuer engagement for a Delhi NCR company?
Standard data requirements include: audited financial statements for the last 3 to 5 years; management-prepared financial projections for 5 years; the company’s memorandum and articles of association; the latest cap table and shareholding pattern; shareholder agreements or term sheets; details of any pending litigation; and a description of the business. For IBC proceedings: the list of creditors and claims admitted, the asset register, the draft information memorandum, and the NCLT order commencing CIRP or liquidation. For NCLT merger scheme matters: the draft scheme of arrangement and board approval documentation.
10. Engage Marcken Consulting as Your Registered Valuer in Delhi
Whether you are a Delhi NCR company planning a share allotment, a Resolution Professional commencing a new CIRP under the February 2026 coordinator-valuer model, a listed company transitioning your ESOP valuation to an IBBI Registered Valuer under the December 2025 SEBI amendment, a Liquidator seeking IVS-compliant reports under the April 2026 circular, or an MSME needing a single-valuer liquidation report under the May 2026 amendment — Marcken Consulting provides the credentials, regulatory knowledge, and technical expertise to deliver compliant, defensible valuation reports for Delhi NCR.
A preliminary discussion — covering the purpose of the valuation, the applicable regulatory framework in the July 2026 position, the timeline, and the data available — is available at no charge and typically takes 30 minutes.
Reach out to us at: marckenconsulting.com
Marcken Consulting LLP | CA Murli Chandak, Principal
IBBI Registered Valuer (SFA) | SEBI Category-I Merchant Banker | Ahmedabad and Mumbai
Disclaimer: This article is intended for general informational purposes only and does not constitute legal, tax, or financial advice. Regulatory provisions cited above are subject to further clarification and amendment. Readers are advised to consult a qualified professional before acting on any information contained herein. The regulatory position reflected in this article is as of July 2026; please verify the current position at the time of acting.
